Section 127: Decision notices and right to refer to Tribunal.

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part VIII: Provisions relating to market abuse

If the FCA decides—

to impose a penalty on a person under section 123(2);
to publish a statement censuring a person under section 123(3);
to impose a temporary prohibition on an individual under section 123A(2)(a);
to impose a temporary prohibition on an individual under section 123A(2)(b);
to impose a permanent prohibition on an individual under section 123A(3);
to impose a suspension or restriction in relation to a person under section 123B;

it must give the person a decision notice.

A decision notice about the imposition of a penalty under section 123 must state the amount of the penalty.

A decision notice about the publication of a statement under section 123 must set out the terms of the statement.

A decision notice about the imposition of a prohibition under section 123A must set out the terms of the prohibition.

A decision notice about the imposition of a suspension or restriction under section 123B must state the period for which the suspension or restriction is to have effect.

If the FCA decides—

to impose a penalty on a person under section 123(2);
to publish a statement censuring a person under section 123(3);
to impose a prohibition on an individual under section 123A; or
to impose a suspension or restriction in relation to a person under section 123B;

that person may refer the matter to the Tribunal.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.